Governance and Competitive Advantage
- 1 August 1994
- journal article
- Published by Emerald Publishing in Managerial Finance
- Vol. 20 (8) , 54-68
- https://doi.org/10.1108/eb018486
Abstract
This paper uses a transactions economics theory of financial governance to reconcile and integrate the evidence on inter‐ and intra‐country differences in corporate finance and corporate governance. We argue that one reason for the competitive advantage demonstrated by Japan in recent years is Japan's greater use of high capability financial governance and its consequent reduction of risks that would otherwise be borne.Keywords
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